Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Application Security

11/22/2016
01:20 PM
50%
50%

Symantec To Buy LifeLock At $2.3 Billion

Deal set to be finalized by Q1 2017 and financed by cash and $750 million of new debt.

Symantec has announced plans to buy identity protection provider LifeLock in a deal that is expected to give a boost to the company’s cybersecurity business, TheStreet reports. 

The deal is confirmed at $2.3 billion and LifeLock shareholders will get $24 per share or a 16% premium to its closing price on Friday of $20.75. It will be financed by cash and $750 million of new debt and finalized in the first quarter of next year, says TheStreet.

"With the combination of Norton and LifeLock, we will be able to deliver comprehensive cyber defense for consumers," said Symantec CEO Greg Clark, adding "this acquisition marks the transformation of the consumer security industry from malware protection to the broader category of Digital Safety for consumers."

This deal is also seen as a victory for activist investor Paul Singer of hedge fund Elliott Management Corp. who had in June pushed LifeLock to boost shareholder value.

Read more details here.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Ludivina
50%
50%
Ludivina,
User Rank: Strategist
3/20/2017 | 8:22:03 PM
Re: Norton
Most likely they will make a better organization together.
Maisons pierre
50%
50%
Maisons pierre,
User Rank: Apprentice
3/19/2017 | 4:32:51 PM
Norton
I don't like Norton security from Symantec but I just can gratulate this buy ! I ofen use LifeLock and it's a great service.
10 Ways to Keep a Rogue RasPi From Wrecking Your Network
Curtis Franklin Jr., Senior Editor at Dark Reading,  7/10/2019
The Security of Cloud Applications
Hillel Solow, CTO and Co-founder, Protego,  7/11/2019
Where Businesses Waste Endpoint Security Budgets
Kelly Sheridan, Staff Editor, Dark Reading,  7/15/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: "Jim, stop pretending you're drowning in tickets."
Current Issue
Building and Managing an IT Security Operations Program
As cyber threats grow, many organizations are building security operations centers (SOCs) to improve their defenses. In this Tech Digest you will learn tips on how to get the most out of a SOC in your organization - and what to do if you can't afford to build one.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-3571
PUBLISHED: 2019-07-16
An input validation issue affected WhatsApp Desktop versions prior to 0.3.3793 which allows malicious clients to send files to users that would be displayed with a wrong extension.
CVE-2019-6160
PUBLISHED: 2019-07-16
A vulnerability in various versions of Iomega and LenovoEMC NAS products could allow an unauthenticated user to access files on NAS shares via the API.
CVE-2019-9700
PUBLISHED: 2019-07-16
Norton Password Manager, prior to 6.3.0.2082, may be susceptible to an address spoofing issue. This type of issue may allow an attacker to disguise their origin IP address in order to obfuscate the source of network traffic.
CVE-2019-12990
PUBLISHED: 2019-07-16
Citrix SD-WAN 10.2.x before 10.2.3 and NetScaler SD-WAN 10.0.x before 10.0.8 allow Directory Traversal.
CVE-2019-12991
PUBLISHED: 2019-07-16
Citrix SD-WAN 10.2.x before 10.2.3 and NetScaler SD-WAN 10.0.x before 10.0.8 have Improper Input Validation (issue 5 of 6).